Spar's Sales Grew by 4.8% Last Year

The retail chain Spar Hungary achieved gross sales of almost HUF 1,112 billion in 2024, which is 4.8% higher than the previous year, while the volume of products sold increased by about 2% year-on-year, the company's CEO, Gabriella Heiszler said at the annual press conference in Budapest on Thursday.

She stated that Spar Hungary also closed last year with a loss, the exact amount of which will be published in the company's annual report at the end of May. The loss in 2023 was HUF 18.2 billion.

The price margin freeze order by the government means a loss of HUF 1.5 billion per month for Spar. As MTI reports, the company understands the government's measures to reduce inflation, so the loss has not been charged to products not affected by the margin freeze, the managing director said.

However, price negotiations have been initiated with suppliers to ensure that the costs of the measures are not only borne by the retail sector; a proportionate share of the costs should also be borne by food processors and manufacturers, said Gabriella Heiszler.

She said that at the end of last year, the Spar network had 652 stores in various formats. Of these, 282 were Spar supermarkets, 29 City Spar supermarkets, 36 Interspar hypermarkets and 305 franchise partner stores. The company expects its network to have more franchise stores than company-operated stores this year.

The franchise network had an annual turnover of HUF 165.7 billion last year. Gabriella Heiszler stressed that Spar has developed a well-functioning franchise program for Hungarian small and medium-sized enterprises.

Spar's meat plant in Bicske achieved a net turnover of HUF 65.3 billion, and the company estimates that if it were to operate on its own, it would be Hungary's second largest meat plant. The Perbál meat plant had a net turnover of HUF 12 billion, while the plant producing sandwiches, salads and other ready-made products had a net turnover of HUF 3.4 billion.

Spar employed more than 17,000 people last year, making it one of the largest employers in Hungary.